If you aspire to launch your own business, you likely fall into one of two categories: entrepreneur or wantrepreneur. The distinction is simple, entrepreneurs put their ideas to the test and allow themselves to be vulnerable to the possibility of failure, while wantrepreneurs are often paralyzed by indecision and the fear of falling flat on their faces.
While the fears of wantrepreneurs are very real and in most cases completely rational, if launching a successful business of your own is your main goal, you need to find a way to push past the fear of the unknown. Here are four strategies to help guide you in making the leap from a wantrepreneur to an entrepreneur.
Check Your Ego at the Door
Ego – A Founder’s Worst Enemy
As a wantrepreneur, you think that your billion dollar idea is nothing without you. And yes, while your involvement and guidance in executing your business plan may be key, a successful entrepreneur realizes that it isn’t all about him or her. A true entrepreneur recognizes that his whole organization is greater than the sum of its parts.
Stop letting your ego call the shots in your business and instead focus on building a team of reliable people that is dedicated to helping you bring your big idea to fruition. Look for people and advisors who have worked at other startups so you can glean important lessons from their experience and avoid making the same mistakes with your new company. Let go of a know-it-all mindset and surrender to the fact that you don’t have all of the answers. Commit to learning all that you can and being open and flexible to any new ideas that better serve the goal of launching your company.
Get Comfortable Selling
True entrepreneurs understand that no matter what role you envision for yourself at your company, it will require you to do a lot of selling. You’ll need to sell your idea to investors, employees, advisors and eventually also prove to your customers why they should spend their hard-earned money on your product or service.
If sales isn’t your forte, you need to get comfortable with it. One strategy to help you face this challenge is to practice selling another range of products through a company like Amway that offers sales training and guidance. For a minimal upfront investment, you can glean priceless sales experience and get comfortable enough with sales to sell your own business idea to the intended audiences so you can bring your entrepreneurial dreams to fruition.
Adjust Your Perspective on Your Business Fears
One thing that often sets wantrepreneurs apart from entrepreneurs is a fear of failing. And yes, this is a very real possibility when launching a new business, but a chance of failure is no reason not to try at all. Instead, adjust your perspective and adopt an attitude of “what’s the worst that could happen?”
If you want to have your own successful business, you need to truly believe that it’s better to fail than not try at all. Be prepared and willing to take massive action in order to get your big idea off the ground. Most of the best things in life require a leap of faith and starting your own business is no different.
Focus on the Greater Good, Not Just the Money
If you want to make a quick buck, entrepreneurship is likely not for you. Sure, you may have a greater income potential than you have working for someone else, but if getting rich quick is your primary motivation for starting your company, you might as well quit now, because that will not be enough to drive you through all of the hills and valleys that come with the territory of launching a new company.
Instead, get passionate about how your business idea can benefit the world. By shifting your focus to help others benefit from your company, rather than just how you can benefit from it monetarily, you can more effectively sell your concept and develop a more organic following.